social marketing in the banking and financial sector - pacb presentation

Social Media & Marketing

in the Financial Sector

State of the Industry

• The decline of print advertising

• Social media marketing comes of age

• Pay-per-click

• Inbound marketing

• Web 2.0

Broadcast trends

• DVR/TIVO

• OnDemand

• NetFlix

• Cable

• Satellite Radio

• Consolidation

• YouTube

Changing Media Landscape

Search engine impact

Inbound Marketing is marketing

focused on getting found by

customers.

• In traditional marketing (outbound

marketing) companies focus on finding

customers. They use techniques that are

poorly targeted and that interrupt people.

• Instead of driving their message into a

crowd over and over again like a

sledgehammer, they attract highly qualified

customers to their business like a magnet.

• Technology is making these old techniques

less effective and more expensive.

– Instead of interrupting people with television

ads, we will create videos that potential

customers want to see.

– Instead of buying display ads in print

publications, we will create our own blog that

people subscribe to and look forward to

reading.

Instead of driving the message into a crowd

over and over again like a sledgehammer,

we will attract highly qualified customers to

the business like a magnet.

Inbound marketing

Best Practices

• Marrying the outbound marketing tactics

that work with the inbound tactics that will

take us to the next level:

– Web site optimization

– Blog

– Social media marketing

What is Social Media?

• A category of sites that is based on user

participation and user-generated content.

• They include social networking sites like

LinkedIn or Facebook, social bookmarking

sites like Del.icio.us, social news sites like

Digg or Reddit, and other sites that are

centered on user interaction.

WHY Social Media?

It reaches your audience

where they are.

Why should my bank

participate?

• Community building

• Product research

• Customer service

• Marketing & promotion

• Transparency

Extend branding efforts

• Social media provides an array of new

“touch points” for brand executives to

interact with prospects and customers.

• Due to two-way, real-time attributes, social

media tools enable a highly personal brand

experience for customers and prospects.

Reduce marketing spend

• While social media requires an investment

of budget and professional resources, it’s

nowhere near the costs associated with

other media.

• As the cost of each sale acquired through

social media is significantly reduced, ROI

and profit margins will increase.

Facebook

• According to Facebook, there are more than 500 million

Facebook users with over 100 million users logging in daily.

• If Facebook were a country, the number of users would be

the equivalent of the fifth most populated nation in the world,

behind China, India, the United States, and Indonesia.

• Facebook’s growth is with users over age 26, with the

majority of the growth coming from users 35 to 44 years of

age.

So you’ve got a great Facebook

page, now what?

Make it work for you!

Little things can make

a big difference

Twitter• Twitter has more than 165 million registered users, but the

site has more than 98 million regular visitors per month.

• More than 100 million “tweets” go out every day.

• 1.8 million new users sign up for Twitter account each week.

• The passive Twitter audience – people who don’t actually

tweet, hence accounting for the difference between traffic

and users – will likely continue to grow, much in the way that

blogs have over the past decade.

• People who don’t tweet themselves will visit the Twitter

profiles of friends, family, or their favorite celebrities -- and

access that information in different ways.

• Who?

– Adults, professionals, sales reps, job seekers,

business communities

• Why?

– Making connections and recommendations;

creating communities, gathering leads

• How?

– Easy and free to set up for basic membership

• As of June 20, 2010, LinkedIn topped 70 million users with

more than one million company profiles.

• According to comScore, LinkedIn gets over 16 million unique

visitors each month.

• The average LinkedIn user is 39 and makes $139,000 a

year. About 90,000 users are chief executive officers, and

nearly half a million others occupy another job in the C-suite.

• BMW, American Express advertise on LinkedIn. Microsoft,

Target, eBay and L’Oreal pay upwards of $10k per month to

search LinkedIn profiles for job candidates.

Available in 22 languages with more than

20 country specific content options

Blogging

• Early blogs were a combination of online diaries or journals,

email lists and “threaded” discussion forums.

• Evolved from “what’s new” pages on personal sites to

commercial blog software such as Blogger, WordPress,

Movable Type and LiveJournal.

• Blogging took off when tools made it easy to combine

personal journals with links to others – permalinks,

trackbacks, blogrolls.

• Today, blogging is intertwined with news media and social

media, as celebrities, news reporters and anchors,

columnists and politicians not only blog, but share their blogs

via Facebook, Twitter and other social media.

Keys to Blogging Success

• Consistency

– Establish how often you’ll post and stick to it.

• Establish a voice

– Create personalilty

– Be human

– Should not sound as if written by the PR or legal

teams

Keys to Blogging Success

• Mix it up

– Alternate written blog entries with the

occasional video or audio blog

• Integration

– Blog entries make great Facebook posts, and

can be tweeted to your followers

Comment Marketing

• Participate!

– Regularly read and comment on other’s blogs –

add to the conversation

– Encourage commenting on your own blog

– Run promotions or deals to encourage

comments

– Invite carefully screened guest bloggers

– Offer feedback, and respond to all feedback

offered

– Do NOT use comments fields to spam or overtly

self-promote

Integration

All forms of media must

support one another!

So? Who’s Doing a Great Job?

But WAIT…there is more!

This seems like

a LOT of work!

•I don’t have time for this…

•When am I supposed to do this

stuff?

•I’m already frantically busy!

We’ll turn this over to the interns…

…NOT

Measuring Success

- Set strategic goals at the outset

- What is the call to action on each page of each

outlet?

- Visit our website?

- Call us?

- Purely informational/educational?

- News provider?

- What will you measure?

- Site traffic?

- Friends/Fans?

- Conversion?

• Initially, set attainable goals

– 100 fans in first month

– Increased website traffic

• Then increase goals

– Conversions

– Bounce backs

But what about…

Damage control?

So…

• What’s next?

– Mobi

– Augmented Reality

– QRC

The Five Social Media Rules

(ignore at your own peril!)

If you didn’t like our service, let us

know. If you liked our service, let

your friends know.

Don’t Sell. Make connections.

Don’t be heavy handed with your image.

Always available.

Strategy.

Questions?